Finance:MetaTrader 5
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| Developer(s) | MetaQuotes |
|---|---|
| Operating system | Windows, Android, iOS |
| Type | Trading platform, Technical analysis software |
| License | MetaQuotes |
| Website | www |
MetaTrader 5, also known as MT5, is a multi-asset electronic trading platform developed by MetaQuotes. It is primarily used for stock and commodities trading and facilitates the creation of multiple accounts with various brokers. The platform can be accessed through Microsoft Windows, MacOS via Wine, or via a web browser terminal, with mobile applications available for Android and iOS.
History
MetaTrader 5 was released in 2010 as a new version of the trading platform from MetaQuotes. The platform was certified and granted ISV status by the Singapore Mercantile Exchange (SMX) in January 2012.[1]
By early 2013, MetaTrader 5 had also received certification from the Chicago Mercantile Exchange (CME) and Warsaw Stock Exchange (WSE). Later, in December 2019, MetaQuotes integrated SumSub's KYC/AML services into MetaTrader 5.[2]
In a notable incident on September 24, 2022, both MetaTrader 4 and 5 apps were removed from the AppStore for undisclosed reasons.[3] Both apps were reinstated on March 7, 2023, after MetaQuotes provided additional clarification regarding operational technicalities to Apple.[4]
Functionality
MetaTrader 5 offers several notable improvements over its predecessor, MetaTrader 4. It provides functionality for trading stocks, CFDs, and futures, in addition to forex trading. Moreover, MT5 operates on a 64-bit platform, in contrast to the 32-bit platform of MT4, making it a preferred choice for many forex brokers.[5]
One of the key features of MetaTrader 5 is its built-in capability for algorithmic trading. The platform utilizes the Python language with an API that includes libraries for machine learning, process automation, and data analysis and visualization. Furthermore, it enables the testing of parameters used by an Expert Advisor.[6]
Critical Reception
MetaTrader 5 has been praised for its advanced technical analysis tools, automated trading capabilities, and wide range of time frames and technical indicators. It also received positive feedback for its ability to support multi-asset trading.[7] However, some users have criticized it for its complexity and steep learning curve compared to its predecessor, MetaTrader 4.[8]
See also
- MetaTrader 4
- Algorithmic trading
- Electronic trading platform
- Foreign exchange market
- Contract for difference
References
- ↑ "Singapore Mercantile Exchange Certifies MetaTrader 5 Trading Platform". International Business Times. January 18, 2012. https://www.ibtimes.co.uk/singapore-mercantile-exchange-certifies-metatrader-5-trading-283443.
- ↑ "MetaQuotes Integrates SumSub's KYC/AML Services". The Financial Comission. December 17, 2019. https://financialcommission.org/2019/12/17/metaquotes-integrates-sumsubs-kyc-aml-services/.
- ↑ Oladipupo, Solomon (September 24, 2022). "Apple Pulls Down MT4 and MT5 Trading Apps from App Store". Finance Magnates. https://www.financemagnates.com/forex/mt4-and-mt5-trading-apps-have-been-removed-from-apple-app-store/.
- ↑ Steves, Rick (March 7, 2023). "MetaTrader 4 and MetaTrader 5 reinstated to Apple Store after months of suspension". Finance Feeds. https://financefeeds.com/metatrader-4-and-metatrader-5-reinstated-to-apple-store-after-months-of-suspension/.
- ↑ Noonan, Troy (2022) (in English). Forex Trading QuickStart Guide: The Simplified Beginner's Guide to Successfully Swing and Day Trading the Global Foreign Exchange Market Using Proven Currency Trading Techniques. Albany, NY: ClydeBank Media. pp. 101–102. ISBN 978-1636100128.
- ↑ Hamori, Shigeyuki (2015) (in English). Empirical Finance. Cham, Switzerland: Springer. ISBN 9783038977070.
- ↑ Lutat, Marco (October 6, 2022). "MetaTrader 5 Review – Is This Multi-Asset Platform Worth It?". https://forexrobots.net/metatrader-5-review/.
- ↑ Smith, Jessica (March 14, 2023). "MetaTrader 4 vs. MetaTrader 5: Which is Better for You?". https://www.financemagnates.com/metatrader-4-vs-metatrader-5/.
External links
Category:Financial software Category:Electronic trading systems
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